Private equity group acquires Kenco Logistics in bid to boost growth plans

Personal fairness group acquires Kenco Logistics in bid to spice up progress plans

The household funding agency Pritzker Personal Capital has acquired a share of Kenco Logistics, one of many nation’s prime ten third occasion logistics suppliers (3PLs) by dimension, in a transfer that can present the Chattanooga, Tennessee-based firm with sufficient contemporary capital to spice up its progress plans, leaders of each teams stated.

Pritzker stated it had agreed to do the funding alongside members of the present Kenco administration crew. Phrases of the deal weren’t disclosed, however the corporations stated that Kenco CEO Denis Reilly will proceed to guide the corporate from its present headquarters as soon as the transaction is accomplished as forecast within the fourth quarter of 2022. 

The infusion of money is meant to offer Kenco with further assets to speed up its progress, scale its revolutionary providing, and strengthen its management as a 3PL supplier, each teams stated.

“For greater than 70 years, Kenco has thrived as a family-owned group,” Reilly stated in a launch. “Because the demand for revolutionary and dependable logistics options turns into better than ever, we have now discovered the perfect associate in Pritzker Personal Capital to assist our progress and advance our mission to be the popular provide chain associate in North America. From increasing our geographical protection to investing in necessary verticals, services and products, Kenco will now be capable to seize new alternatives for the advantage of our groups, prospects and enterprise companions.” 

Based in Chattanooga in 1950, Kenco serves greater than 200 purchasers with built-in 3PL provide chain options together with outsourced distribution and warehouse administration, e-commerce achievement, transportation administration, materials dealing with, and automation companies. Kenco as we speak manages greater than 100 distribution amenities comprising 36 million sq. ft of house, backed by a crew of greater than 5,000 workers. The corporate serves as a vital provide chain associate for patrons within the shopper packaged items (CPG), meals and beverage, healthcare, sturdy items, retail, industrial, and knowledge expertise finish markets, and generates greater than $1 billion in annual income.

The transfer marks Pritzker Personal Capital’s newest funding within the logistics sector, following its possession stake within the wood-pallet-pooling firm Peco Pallet.

Editor’s observe: This text was revised on October 7 to offer readability on Pritzker’s earlier investments within the sector.

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